T. Rowe Price Group, Inc. $TROW Shares Sold by United Asset Strategies Inc.

United Asset Strategies Inc. lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 63.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,534 shares of the asset manager’s stock after selling 11,253 shares during the period. United Asset Strategies Inc.’s holdings in T. Rowe Price Group were worth $680,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TROW. BlackRock Inc. purchased a new stake in T. Rowe Price Group during the second quarter valued at $2,728,119,000. State Street Corp grew its stake in shares of T. Rowe Price Group by 2.7% in the 2nd quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock worth $1,665,954,000 after buying an additional 381,183 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of T. Rowe Price Group by 20.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock worth $358,187,000 after buying an additional 524,544 shares in the last quarter. First Trust Advisors LP grew its stake in shares of T. Rowe Price Group by 12.6% in the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after buying an additional 413,317 shares in the last quarter. Finally, Provident Trust Co. increased its holdings in shares of T. Rowe Price Group by 0.4% in the 2nd quarter. Provident Trust Co. now owns 2,061,353 shares of the asset manager’s stock worth $234,355,000 after buying an additional 8,524 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the transaction, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Trending Headlines about T. Rowe Price Group

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: Third-quarter adjusted earnings of $2.86 per share exceeded the $2.63 consensus estimate, while revenue reached approximately $2.0 billion versus expectations of $1.98 billion. Revenue increased 5.9% year over year, supported by higher advisory fees. T. Rowe Price Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Keefe, Bruyette & Woods reaffirmed its “market perform” rating but raised its price target to $113 from $112, implying approximately 8.8% potential upside based on the referenced price. Keefe, Bruyette & Woods Ratings
• Neutral Sentiment: T. Rowe Price is expanding its wealth-management operation with more than 50 new roles. The initiative could diversify growth and strengthen distribution over time, although added staffing costs may weigh on near-term efficiency. T. Rowe Price Adds Over 50 Wealth Management Roles
• Negative Sentiment: The earnings beat was offset by substantial client outflows and a decline in AUM during the quarter. Persistent redemptions are a key concern for an asset manager because they reduce fee-generating assets and could limit future revenue growth. T. Rowe Price Q3 Earnings, Revenue Beat Even as AUM Dips

Analysts Set New Price Targets

TROW has been the topic of several recent research reports. Barclays decreased their target price on shares of T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 14th. UBS Group began coverage on shares of T. Rowe Price Group in a report on Wednesday, October 7th. They issued a “neutral” rating and a $107.00 price target for the company. TD Cowen dropped their price target on T. Rowe Price Group from $109.00 to $96.00 and set a “hold” rating for the company in a research report on Friday. Morgan Stanley boosted their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price objective (up from $112.00) on shares of T. Rowe Price Group in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $103.15.

T. Rowe Price Group Stock Down 2.6%

NASDAQ TROW opened at $103.90 on Friday. The company has a fifty day moving average of $105.65 and a two-hundred day moving average of $103.70. The firm has a market capitalization of $22.16 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 3.12 and a beta of 1.45. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, October 29th. The asset manager reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.23. T. Rowe Price Group had a net margin of 28.40% and a return on equity of 20.71%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the business posted $2.81 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 10.08 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.0%. T. Rowe Price Group’s payout ratio is currently 52.58%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.